Israel Balance of Trade

The trade deficit in Israel rose to USD 2.5 billion in April 2019 from USD 1.7 billion in the corresponding month of the previous year. Exports slumped 18 percent to USD 3.7 billion and imports edged down 0.1 percent to USD 6.2 billion. Considering the January to April period, the trade gap widened to USD 7.3 billion from USD 6.2 billion in the same period of 2018, as exports fell 4 percent to USD 18.5 billion while imports rose 1.3 percent to USD 25.8 billion. Balance of Trade in Israel averaged -492.33 USD Million from 1959 until 2019, reaching an all time high of 113.80 USD Million in May of 2009 and a record low of -3019 USD Million in July of 2018.

Balance of Trade in Israel is expected to be -2280.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Israel to stand at -1500.40 in 12 months time. In the long-term, the Israel Balance of Trade is projected to trend around -1589.70 USD Million in 2020, according to our econometric models.

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Israel Balance of Trade

Israel has been recording trade deficits since 1959 mostly due to a lack of natural resources. Indeed, Israel major imports are: oil and other mineral fuels and uncut diamonds. Main exports are: cut diamonds, pearls and other precious metals and stones; electrical machinery and equipment, mechanical machinery and appliances and electronics. Israel´s main trading partner is the United States (28 percent of total exports and 12 percent of imports). Others include: Hong Kong, China, Belgium, Netherlands, Germany and United Kingdom. This page provides - Israel Balance of Trade - actual values, historical data, forecast, chart, statistics, economic calendar and news. Israel Balance of Trade - actual data, historical chart and calendar of releases - was last updated on May of 2019.